News : Regulation

Regulation, Superannuation

RC report targets super selling, default funds

The unsolicited selling of super funds will be banned and superannuants will be defaulted a single time as a result of the recommendations from the banking royal commission.

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LRBA, Property, Regulation

SMSFA fights LRBA ban

The SMSF Association has argued against a ban on LRBAs, instead urging more consumer protection around the debt instrument.

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Regulation

Advisers need to guide clients through change of govt

An SMSF strategist has suggested advisers will need to communicate effectively with their SMSF clients to help them deal with the changes to superannuation that will arise if the Labor Party forms government at this year’s election.

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Administration, Regulation

Time ticking on six-member SMSF proposal

Six-member SMSF strategies may need to be postponed given the government may be unable to legislate the proposal before the election.

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Financial Planning, Regulation

SMSF advisers add to rise in planner numbers

The number of advisers increased rapidly in late 2018, driven partly by SMSF advice providers registering before the imposition of new education standards.

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Accounting, Regulation

Govt unlikely to bring back accountants’ exemption

The federal government is unlikely to be in the mood to reintroduce the accountants’ exemption given recent and ongoing inquiries.

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ASIC, Regulation

SMSF adviser banned for 25 years

Court action initiated by ASIC has resulted in an SMSF adviser being removed from the industry for 25 years for misusing client funds.

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Compliance, Regulation

Royal commission effect on jobs already evident

The jobs market in the financial services and insurance sectors has taken a beating in the wake of the banking royal commission.

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Regulation, Superannuation

ALP policy has potential economic consequences

The proposed changes to the franking credit rules could result in SMSF investors choosing debt for capital formation instead of equities, potentially threatening the Australian economy.

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Regulation, Retirement, Superannuation

Franking credit proposal fails policy test

Labor’s imputation refund proposal fails the public policy test on four grounds and will drive investors on to welfare, retirees have heard.

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